Compass Business Finance and the British Business Bank's Growth Guarantee Scheme Are Helping Businesses Navigate US Tariffs

 

In today’s interconnected world, sheet metal and other manufacturers face a myriad of challenges, including fluctuating global tariffs that can significantly impact their operations. The recent US tariffs have created substantial uncertainty for many UK businesses, affecting their cash flow and overall financial stability. However, there is a beacon of hope: the British Business Bank’s Growth Guarantee Scheme (GGS), which has been bolstered with additional funding to support those affected by these tariffs.

The Growth Guarantee Scheme, administered by the British Business Bank, is designed to provide smaller businesses with access to finance, enabling them to invest and grow despite economic disruptions. On April 13, 2025, the Chancellor announced an additional £500 million in lending capacity for the scheme. This funding aims to support businesses facing cash flow issues due to changes in global tariff rates, offering a lifeline to those struggling to navigate the new economic landscape.

Compass Business Finance, a well-respected hybrid lender-broker, has been a trusted partner for many businesses seeking flexible and competitive finance solutions. With a strong focus on customer-first values and industry expertise, Compass is well-positioned to help its clients leverage the benefits of the Scheme. As an accredited lender, Compass is able to deliver funding with GGS support to UK SMEs, ensuring that they have access to the necessary financial resources to overcome challenges and invest in their growth.

Benefits of the Growth Guarantee Scheme

  1. Enhanced Access to Finance: The additional backing of the Growth Guarantee Scheme enables Compass to supply funding to businesses where either the risk would have previously been seen as too high, or to offer more favourable terms.
  2. Improved Cash Flow Management: One of the primary challenges posed by the US tariffs is disrupted cash flow. Compass can help businesses manage their cash flow more effectively, ensuring they can continue operations without undue financial strain, through a variety of funding options.
  3. Investment in Growth: Despite the economic challenges, businesses must continue to invest in their growth to remain competitive. The Growth Guarantee Scheme allows SMEs to secure financing for legitimate business purposes, including investment in new more efficient technologies, expansion projects, and sustainable assets. This investment is crucial for long-term success and resilience.

Conclusion

The additional funding for the Growth Guarantee Scheme from the British Business Bank is a significant step towards supporting UK businesses affected by the US tariffs. Compass Business Finance, with its customer-first approach and industry expertise, is ideally positioned to help its clients navigate these challenges. By providing enhanced access to finance, improved cash flow management, and opportunities for investment in growth, Compass is helping businesses face adversity and pursue new opportunities.

For more information visit https://www.compassbusinessfinance.co.uk/growth-guarantee-scheme/ or call 01732 833477.